作者：University of North Carolina; University of North Carolina Chapel Hill
作者：National Tsing Hua University
作者：University System of Ohio; Ohio State University
作者：University of Mississippi; Federal Reserve System - USA
摘要：Was clearinghouse membership a key factor mitigating withdrawals from intermediaries during the Panic of 1907? Analyzing balance-sheet information on institutions in New York and Chicago, we find evidence that clearinghouse members had smaller contractions in demand deposits than did nonmembers. New York City trusts, isolated from the clearinghouse, were subject to heightened perceptions of risk, and suffered large-scale withdrawals because they were outside of the clearinghouse and therefore ...
作者：University of Wisconsin System
作者：Harvard University; National Bureau of Economic Research
摘要：We present the first estimates of the returns to years of schooling before 1940 using a large sample of individuals (from the 1915 Iowa State Census). The returns to a year of high school or college were substantial in 1915-about 11 percent for all males and in excess of 12 percent for young males. Education enabled individuals to enter lucrative white-collar jobs, but sizable educational wage differentials also existed within occupational groups. Returns were substantial even for those in far...
作者：Montana State University System; Montana State University Bozeman
